February 17 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday it is lending 11.8 million euro ($16.2 million) to Romanian water utility Apa Canal 2000 to upgrade the water and wastewater networks in Arges county, in southern Romania.
Thr EBRD will co-finance a regional investment programme for water supply and wastewater facilities and networks under the EU Cohesion Fund financing for Romania, the bank said in a statement.
The loan will be used to finance infrastructure for drinking water treatment and distribution as well as wastewater collection and treatment, for the populations of the towns of Costești, Pitesti, Stefanesti and Topoloveni, and the surrounding areas.
The loan is the 21st investment under the bank’s Romania EU Cohesion Funds Water Co-Financing Framework, launched in 2010. The facility was originally approved in November 2010, with a volume of 200 million euro, and further increased by 130 million euro in September 2012, following strong local demand.
The EBRD has invested approximately 6.4 billion euro in more than 343 projects in Romania, and has further mobilised over 14 billion euro for these ventures from other sources of financing.
($=0.7297 euro)